On March $1,$ Kean Corporation accepted a $60-$day, $3\%,$$$21,900$ note receivable from J$.$ Peterman in exchange for his account receivable.

Read the requirements.

Requirement $1.$ Journalize the transaction on March $1.($Record debits first, then credits. Select the explanation on the last line of the journal entry table.$)$

entry table. For notes stated in days, use a $365-$day year.$)$